Russia's share in total imports of Azerbaijan increases
BAKU, Azerbaijan Jan. 8
By Fidan Babayeva - Trend:
The volume of foreign trade operations between Azerbaijan and Russia amounted to $2.41 billion from January through November 2020, which is 11.5 percent less than in the same period of 2019, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan.
According to the SCC, the export of Azerbaijani products to Russia for the reporting 11 months amounted to $644 million, while a year earlier this figure was at the level of $660 million.
Thus, on an annual basis, Russia reduced imports of Azerbaijani products by 2.4 percent, and Russia's share in the total export of Azerbaijan increased from 3.61 to 4.94 percent.
At the same time, the import of Russian products to Azerbaijan on an annualized basis decreased from $2.07 billion to $1.77 billion. Russia’s share in the total imports of Azerbaijan amounted to 18.31 percent of the total volume against 16.72 percent in the same period last year.
Thus, the balance of foreign trade turnover of Azerbaijan with Russia remained negative over the reporting period, amounting to $1.12 billion.
From January through November 2020, Azerbaijan's total foreign trade turnover amounted to $22.7 billion, which is 25.8 percent less than in the same period of 2019. The balance of foreign trade turnover on an annualized basis decreased by 42.9 percent, but remained positive, amounting to $3.37 billion.